By Ronald Orol
The Deal Podcast
Mar 5th, 2020
Geoffrey Cain, author of ‘Samsung Rising,’ tackles South Korea’s chaebols, the biggest swing vote in South Korea and activist investing within Asia during a conversation with The Deal for its Activist Investing Today podcast.
Cain spoke to The Deal for its Activist Investing Today podcast about South Korea’s chaebols, the biggest swing vote in South Korea and activist investing in Asia. He provided exclusive behind-the-scenes analysis of Samsung’s media, retail and institutional investor campaign to defeat Elliott Management and complete its 2015 merger with Cheil Industries Inc., the holding company for the Samsung empire, a transaction that lead to a massive corruption scandal in Korea.
“The reality was that they were trying to consolidate shareholder value and control under [Samsung heir] Jay Lee to help him raise money to pay his massive inheritance tax,” Cain said. “The three Samsung Lee children will probably pay a $6 billion inheritance tax combined.”
Cain also talks about how the political and economic fallout of the Samsung restructuring impacted Elliott’s subsequent campaigns at Hyundai in 2018 and 2019. He also discusses the outlook for activist campaigns in South Korea.
Here’s the podcast: https://soundcloud.com/thedeallive/activistinvesting-2020-03-05-cain
Read more about Geoffrey Cain’s interview with The Deal Podcast
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